The Israeli startup PlanPlatform, formerly known as VisualTau, has been bought by US company Autodesk. The price of the deal was not disclosed, but industry observers estimate it to be $25 million.
PlanPlatform has developed an online software platform that seeks to compete with the costly two-dimensional and three-dimensional drafting tools used by engineers, such as Autodesk’s AutoCAD.
As VisualTau, the company had developed a system that provides online software that can be used to construct models collaboratively and to exchange information online.
PlanPlatform was established in 2007 by former members of the Israel Air Force’s visual intelligence unit and Israel Aerospace Industries.
The company raised $4.3 million, $800,000 of which came from private investors and Israel’s Chief Scientist and $3.5 million from the Sequoia venture capital fund that invested in PlanPlatform six months ago, during its most recent round of financing.
According to Business Data Israel, the company’s private investors include contractor Eyal Gabbay, who heads the infrastructure division of the Association of Contractors and Builders in Israel.
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